Something for the Suggestion Box
The Chancellor’s email sent yesterday discussed various options for UCLA funding in view of the limited outlook for state support. One of them was philanthropy:
Enhanced philanthropy
UCLA raised $402 million in private support this past year, and we have averaged $420 million per year for the past five years. This record of success routinely places UCLA among the top 10 universities in fundraising—public or private. In fact, we are the number one fundraiser in the country among public universities. Our success says much about the passion of our donors, the vision and quality of our faculty and academic leaders, and the dedication and effectiveness of our development staff. Yet, as successful and sophisticated as we are in generating philanthropic support, UCLA’s fundraising program falls short of our needs. Our total endowment of $2.6 billion represents only $67,000 per student, far below our public competitors such as University of Virginia ($250,000 per student) and University of Michigan ($133,000 per student), as well as our private competitors such as Stanford University ($896,000 per student), Duke University ($331,000 per student) and University of Pennsylvania ($291,000 per student). These figures reflect UCLA’s relative youth more than anything else, but they underscore the need to grow our endowment aggressively. The first step in that growth is planning for a major campaign to celebrate our centennial in 2019, which we expect to far exceed the $3 billion raised in our last campaign. We can succeed with the active participation of the entire UCLA community and we need your help in this extraordinary effort. In the coming months, I will be asking for your thoughts and guidance about how to make this campaign a great success for UCLA. I and your deans may also call upon you to connect with prospective donors, sharing your enthusiasm and ideas for programs targeted through the campaign.
UCLA raised $402 million in private support this past year, and we have averaged $420 million per year for the past five years. This record of success routinely places UCLA among the top 10 universities in fundraising—public or private. In fact, we are the number one fundraiser in the country among public universities. Our success says much about the passion of our donors, the vision and quality of our faculty and academic leaders, and the dedication and effectiveness of our development staff. Yet, as successful and sophisticated as we are in generating philanthropic support, UCLA’s fundraising program falls short of our needs. Our total endowment of $2.6 billion represents only $67,000 per student, far below our public competitors such as University of Virginia ($250,000 per student) and University of Michigan ($133,000 per student), as well as our private competitors such as Stanford University ($896,000 per student), Duke University ($331,000 per student) and University of Pennsylvania ($291,000 per student). These figures reflect UCLA’s relative youth more than anything else, but they underscore the need to grow our endowment aggressively. The first step in that growth is planning for a major campaign to celebrate our centennial in 2019, which we expect to far exceed the $3 billion raised in our last campaign. We can succeed with the active participation of the entire UCLA community and we need your help in this extraordinary effort. In the coming months, I will be asking for your thoughts and guidance about how to make this campaign a great success for UCLA. I and your deans may also call upon you to connect with prospective donors, sharing your enthusiasm and ideas for programs targeted through the campaign.
So here is a suggestion that need not await for “the coming months.” Don’t blow it all on new construction. Rein in the build-and-bond empire that is no longer relevant to the current era. Focus on human capital, not physical. Avoid grand projects like the UCLA hotel that are likely to cost money down the road. Donors can get naming rights to endowed chairs, to scholarships, and to institutes and programs.